Chatham, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Chatham, Ontario, is currently characterized by steady growth. With a median house price of $500,000, the market has experienced a year-over-year increase of 3.5%. This indicates a stable environment for homeowners and suggests a healthy demand for housing in the area.
The median apartment price stands at $300,000, with a slightly lower year-over-year trend of 2.1%. This slower growth rate in the apartment sector could reflect a higher demand for detached homes or possibly an oversupply of apartments relative to demand.
The population of Chatham has reached approximately 15,000 residents, with a robust growth rate of 7.1%. This significant population increase likely contributes to the continued demand for housing and may be driving the steady appreciation in property values.
Investment Opportunities and Potential
The current trends in Chatham’s real estate market indicate potential investment opportunities, particularly in residential properties. The consistent growth in house prices suggests that investments in single-family homes could yield favorable returns as the market continues to expand.
Apartments present an opportunity for investors looking for properties at a lower entry point with a modest appreciation rate. Given the population growth rate, rental demand is expected to remain strong, making multi-family units and apartment buildings potentially lucrative investments, especially if one expects rental rates to increase over time.
In addition to residential real estate, commercial property investments might also benefit from the expanding population as new businesses seek space to serve the growing community.
Future Market Outlook
The future outlook for Chatham’s real estate market appears positive. The combination of steady property value increases and robust population growth sets the stage for ongoing demand. Assuming that local economic conditions remain favorable and no major external shocks affect the market, investors and homeowners can expect continued steady growth in property values.
However, prospective investors should monitor factors such as interest rates, employment rates, and regional economic policies that could impact the real estate market’s trajectory. A balanced approach taking into account both current trends and potential future shifts will be key to successful real estate ventures in Chatham.
